Member Info for prickly

CB explained at the GM that there are certain protocols that have to be followed regardless of the size of sum to be advanced. Granted that the sums here are relatively small . I do not think we will have to wait long for the agreements between the various parties to be signed off. The DD is not an issue.

I messaged the BOD to see if there was any delay to plans to start up the mine at HG as per GM and the circular to ahareholders..

The reply was" everything is going full steam ahead with the work with no disruptions. It is really going well". They are also busy with the documentation .

I presume this will all be announced when ready but the important fact is ,as with delay in announcing the licences, they are not allowing the paperwork to hold up development of this mine.

After much delirious excitement on Comex/LME the copper price is back where it stood one month ago. Likewise silver and gold . Meantime BZT has confirmed its

NZLM license renewal and we are getting closer to our news on funding (which may have needed the renewal).

Incidentally the real price for silver ie physical delivery in Shanghai as opposed to the digital prices in the west does not seem to have budged much . a storm in a paper teacup. Like invading Greenland.

Glad to see the SP reacting well to this placing and CB's mid week roast. General view is that AFP is 12 months behind BZT . As Charles Archer says today "the parallels are obvious". If it is a case of deja vu all over again , I would be delighted as BZT has risen 5 fold since April.

I think the BOD receive assurances well before the official confirmations and this allows them to plough ahead with ordering recruiting etc. So although we investors worry , it was done and dusted some time ago. It was after all a renewal not an application and these assurances allowed us to purchase the plant in the first place.

you are very welcome to to pop down to north london pricey and wave your fists at the traffic snarl-ups caused by never ending hs2 roadworks. there are no fast lanes on the finchley rd.

copper price today has been gyrating like elvis . i did at one point attempt some *** packet analysis of the impact the new record prices would have on bzt cashflow but gave up when copper rocketed up past $6.50 and promptly sunk back to $6.20 . needless to say all the calculations discussed at the gm are now completely swamped by the weimar type price rises we are seeing in metals.. hopefully the unitrans quote for the mining and transporting still remains fairly stable around $50usd per ton rom.. if so we should be in for some bumper profits as soon as we get digging.

even allowing for all the outstanding warrants including sandersons i see every chance of this sp hitting .50 this year and possibly a lot more .

Weighted average calculated grade of the core sample based on geological data was determined to be 1.36% Cu. For the geological grade calculation waste was accounted for as having 0% Cu content which is consistent with the methodology followed during geological modelling as well as for mine design purposes.

Silver was 31g/t and Gold was .42g/t . I used these figures to calculate current value of ore .

Lendme

The short answer is $58 usd per ton ROM. Cu is$150usd and AG is $52usd This is at current spot prices and with 85% 85% and 50% recoverability

Total recoverable value approx $260 per ton . This is before optimization with our new fancy Steinart ore sorting technology.

Hi Bobbust

I was also hoping to get the news by now. I got the impression at the GM that we would need to give the legal teams a few days after Xmas break to finalise things. Cannot be long now...

The steep increase in precious metal prices particularly silver means that with AG recovery at 50% we can now calculate on the basis of 2 .20% CuEq .

12th Feb optimization results were Copper 1.36% remember. Add in .42g/t gold and silver at 31g/t at current prices. . The Steinert sorting equipment will lift this to 5% or more and we truck this booty upto NZLM plant . . Capacity is 180Ktpa of preconcentrate but CB hopes to increase this. In any event we can see our aim of 8000 tons of copper being achieved . With our costs stable and copper at $13,000Usd this project is looking better every day.

I think First Quantum have until end feb to exercise the options they hold on AFP licenses in Zambia. So it will be interesting to hear their intentions.

Ongombo will need access to an ore sorting plant when it sets up its open pit operation and the nearest is at Otjihase which is currently under care and maintenance but could be up and running within 12 months. This plant which is nearby has capacity for 800ktpa and is much bigger than Hope Gorobs .

NZLM. Would be good to hear the plans from AFP board.

At the GM in December we discussed warrants and how they help fund development. This exercise at .06 delivers £210,000 which we can put towards the Capex. I have been quite pleased with the level of turnover in our company recently and have added a few at this dip. Cu prices are the key to future profitability and we are well over predictions at current levels.

Dont remember anything like those prices Harley. Before my time. I came in at around 3p . After the special divi but before Colin Bird. So I have lost a fortune on this company. I thought I was buying into a profitable alluvial platinum mine in Columbia! That went down the pan along with Lawrence Read and Bernard Oliver. But am in the process of reclaiming a big chunk of those losses.

CB after a very slow start has pulled this Hope Gorob bird out of his hat and those who bought in last year at ..020 are sitting very pretty and LTH's like me who have averaged down are happy to see a shaft of copper gold light in the Namibian desert. Copper price was $4,000 in 2016 and oil around $60 usd a barrel . Now the Cu price has tripled whilst oil is the same. Given that 30% of most miners expenses are oil costs this is excellent news for BZT.

PJ I suggest you spend an hour or two studying the Sound Mining technical report published on the website on 30th October . Bear in mind that the prices quoted are very conservative. Gold is now at record $4400 Silver an astonishing $69. (up %140 YTD) and copper now $5.51. We have a headwind potential of around 4billion warrants , but against that we are fully funded subject to Due diligence by financier and should be producing around $25m USD revenue this time next year.

Https://www.bezantresources.com/notice-of-general-meeting/

RMC

All the information contained in the acquisition document was drawn from the H&G feasibility report summary published on website on 30th October. NZLM details start from 10.1 .

Flipper

It was Pricey who spoke with Sandersons before I arrived.

I agree that the serious increase in copper price must be exercising their acquisition tendencies.. CB was in no doubt that we will be a prime target once we are up and running ,particularly when the prospect of expanding to 25kpta is on their radar.

RMC

I have askes Mike Allardice to download the 50 page acquisition document onto the website.

I thought yesterday's meeting went very well. Complete unanimity in the voting barring some 40,000 votes against. Some embittered LTH no doubt. And well reported back by Pricey and Bobust.

Mr T has offered to shut up if he gets a stonking RNS in January and I for one would be very pleased if he did. His habit of multiple ????s reminds me of his namesake in the White House plus he is never wrong EVEN WHEN HE IS!!! I would have thought the RNS of 31 October announcing the binding loan and offtake agreement with a Globally recognised commodities trading company would be enough to satisfy most shareholders The company is quite entitled to require us to maintain confidentiality until all is signed off legally.

Informing us when CB expects to be able to announce completion of the binding agreement DD is a formality which has exercised us too much on reflection. CB did actually say that were the agreement not to be signed off for whatever unlikely reason there were other financiers ready to jump in. However all will be revealed in January.

Charles Archer expects us to start production in April with H & G and NZLM plant being set up in parallel.

Maybe RMC should send off a New Year card to CB . Incidentally Irish is quite entitled to sell his shares whenever he wants btw and is obviously far more knowledgeable about mining matters than most on this board

However nobody predicted the dramatic rise and fall in Blackstone share price so CB can hardly be blamed for not selling off our total holdings at the peak. He did sell a sizeable chunk anyway. I once sold off Apple shares at what i thought was the peak 20 years ago. Not my finest investment decision. .

I am afraid Mr Whaleshaleshark is talking through his Blowhole. CB has managed several mining projects from the outset. Most of them much bigger than BZT. These were in Botswana and the Zambian copper belt when he was working for Anglo and BP as a mining engineer. One required setting up railway lines ! and other features not needed at Hope Gorob. These were before his massive win with Kiwara, His team which includes Martyn Churchouse have also been involved in major projects. We are lucky to be led by an engineer who knows copper sulphide when he sees it not an accountant who has never been down a shaft in his life.

I agree totally with Pricey and Bobbast who I understand is civil engineer and certainly knows a great deal more about establishing a mine than those who whinge anonymously from the sidelines.

This project is fully funded and ready to start in the new year,. We have to remember that despite the total amount of Capex funding being relatively small , there are protocols which have to be followed. Physical due diligence has been completed after several site visits and we are just awaiting the legal documentation to be signed off. This will be done by Jan 12 th and the financier will be announced. I cannot add much to what those who bothered to attend have already laid out.

The general mood was very optimistic and the fact that the revenue figures originally projected in August are now 50% higher thanks rising prices of Cu Au and AG certainly helped. Costs have remained stable.

RMC

Meeting was held around an impressive circular table underneath the Dome of No 1 Cornhill. The Great and the Good ( Sandersons Swanny etc) were all there plus me and Pricey.

Felt like a grand Jury. Unfortunately the acoustics were awful and I could hardly hear what the venerable Chairman was saying. So i have had to email him to verify what I thought he said. So you will have to excuse me until CB replies. Younger attendees with better hearing like Pricey may be able to enlighten you meantime.